Those working within Financial Services will have noticed this recent article in the Times and the suggestion of personal accountability and thereby the risk of potential personal liability.
Managers at a senior level must now take greater care than ever. Simply stating that they have towed the company line will not be a defence. The senior managers regime will now be closely scrutinised by the FCA in terms of its application to issues such as complaints handling or the failure to follow correct processes in the application of policies. Those in senior management in this sector should take greater care than ever.